The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has warned that the huge amount of money spent during elections often pushes elected officials into diverting public funds after assuming office in an attempt to recover their political investments.

Olukoyede made the remarks on Wednesday while delivering the inaugural High-Level Guest Speakers’ Series organised by the Centre for Peace and Strategic Studies at the University of Ilorin.

Speaking on the theme, “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria,” the EFCC chairman expressed concern over the growing monetisation of Nigeria’s electoral process, describing vote-buying and financial inducement as major threats to democracy and good governance.

According to him, the enormous financial resources deployed during elections often create pressure on politicians to misuse public funds once they get into office. He noted that the desperation to recover campaign expenses has contributed significantly to corruption in public service and weak governance across the country.

Olukoyede cited the financial demands involved in winning major elections, particularly governorship contests, saying the cost of securing political office in Nigeria has become dangerously excessive.

“The commercialisation of votes weakens the foundation of good governance because it compromises the political recruitment process. Leaders who buy their way into office are more likely to focus on recovering their investments rather than serving the public interest,” he stated.

He maintained that the EFCC remains committed to combating vote-buying, illegal campaign financing and other electoral offences capable of undermining the credibility of future elections.